KARACHI: VEON, a global digital operator that provides mobile connectivity and services, has increased its planned investment in Pakistan over the next three years to $1.5 billion from $1 billion, Finance Minister Muhammad Aurangzeb said Tuesday, signaling continued interest from international investors in the country.
"This is a significant jump," Aurangzeb said in a virtual address at the SDGs Investment Fair 2026: Investing in Pakistan's Sustainable Future, organized by UNDP Pakistan in Karachi.
The increase comes as Pakistan seeks to attract foreign investment and expand private-sector activity amid efforts to stabilize the economy.
Earlier this year, VEON unveiled an ambitious $1 billion investment plan in a high-level meeting with the finance minister to expand connectivity, modernize infrastructure and accelerate digital innovation across the country.
In his address, Aurangzeb also pointed to growing interest from foreign investors in Pakistan's privatization program, saying three Turkish companies had expressed interest in the first distribution company being offered for privatization.
"We have the basic hygiene, which is being recognized at the local and international level," he said.
Speaking about the Pakistan Stock Exchange, Aurangzeb said that following 11 initial public offerings in the previous fiscal year, five IPOs were completed in the last quarter.
"As you know, Khaadi is coming in with their IPO, and there are about 22 REITs, which are expected to list over the next couple of years," Aurangzeb said.
"It's again a data point because when someone is raising equity on the stock exchange, they're obviously looking to either invest, expand their local commercial operations or set up new units."
